Sep, 30, 2022 — REDSTONE FEDERAL CREDIT UNION is a federal credit union headquartered in HUNTSVILLE, AL with 38 branch locations and about $7.77 billion in total assets. Opened 72 years ago in 1951, REDSTONE FEDERAL CREDIT UNION has about 725,558 members and employs 1,252 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | REDSTONE FEDERAL CREDIT UNION |
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Address: (Main Office) | 220 Wynn Dr HUNTSVILLE, AL 35893 |
Phone: | (256) 837-6110 |
Fax: | (256) 722-8399 |
Website: | https://www.redfcu.org |
Branches: | 38 branch locations |
Members: | 725,558 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 7544 |
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Membership Type: | Multiple common bond - other |
Corporate Credit Union: | No |
Year Opened: | 1951 |
Last Audited: | Jun 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $7,769,381,572 |
CEO/Manager: | Joseph H Newberry |
Chairperson: | Dave Hargrove |
ASSETS: | $ Amount |
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Cash & Equivalents | 658,224,660 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 2,509,687 |
Real Estate Loans | 1,500,566,613 |
Unsecured Loans | 521,022,125 |
Other Loans | 1,385,610,323 |
TOTAL LOANS | 3,407,716,240 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -33,351,230 |
Land And Building | 126,647,052 |
Other Fixed Assets | 26,520,912 |
NCUSIF Deposit | 62,364,004 |
All Other Assets | 1,295,461 |
TOTAL ASSETS | 7,769,381,572 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 20 |
Notes & Interest Payable | 259,806,317 |
Accounts Payable & Other Liabilities | 74,989,972 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 1,388,312,315 |
Regular shares | 3,147,127,018 |
All Other Shares & Deposits | 2,475,962,712 |
TOTAL SHARES & DEPOSITS | 7,011,402,045 |
TOTAL LIABILITIES | 7,346,198,354 |
Regular Reserve | 0 |
Other Reserves | -378,311,193 |
Undivided Earnings | 801,494,411 |
TOTAL EQUITY | 423,183,218 |
TOTAL LIABILITIES, SHARES, & EQUITY | 7,769,381,572 |
INCOME & EXPENSE | |
Loan Income | 112,880,838 |
Investment Income | 50,666,754 |
Other Income | 23,559,742 |
Total Employee Compensation & Benefits | 83,150,837 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 90,414,210 |
Non-operating Income & (Expense) | -283,002 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 16,964,414 |
Cost of Funds | 12,436,006 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 47,084,705 |
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